Wednesday, 31 March 2010

Cant take the losses.

Yup, Im back to that old topic. Im just not quick enough to cut out recently. I have had a tough month, and struggled a lot with my trading, I am entering at the wrong time constantly, and paying for it, so its getting harder and harder to keep taking the losses, but I need to, because if I don't, I just end up with bigger losses. I am not going in play with my losses, just letting them go a bit too far before I cut out. My discipline has definitely gone down this month. Its fine when things are going well, but when things go badly old habits start to creep back in. I still don't completely have the traders mind set, I'm not sure if I believe I can be a winning trader yet.
So I need to have these thoughts in my mind
I know I can make the loss back easily.
I will not let this loss affect me.
its ok to be wrong, I shouldn' t beat myself up about it. Just accept it and move on

Although some might disagree, the evidence is pointing to the fact that I am ( or will be) a winning trader, my last 6 months have been in profit or break even, and I still have a lot of improvement to make, so the signs are good. But I need to get my head together more. Its weird, I am more disciplined trading the greyhounds than I am the horses, probably because I use smaller stakes, the swings are faster and potentially bigger, and you have to be out just before the off. If I could bring that discipline to the horse racing my trading would improve greatly.

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